The two publicly announced candidates to lead the International Monetary Fund (IMF) will be invited to Washington for consultations, the IMF said. IMF spokesman Gerry Rice said that both candidates-a former French finance minister and a former Czech prime minister-would be invited to IMF headquarters for talks after the deadline for nominations closes on August 31. “The board has made clear that candidates can be nominated by anyone and can come from any countries within the Fund's membership,” Rice told reporters. Russia on Wednesday challenged a European Union (EU) monopoly on selecting the head of the IMF by nominating former Czech prime minister and ex-central bank chief Josef Tosovsky. The emergence of a Russia-backed nominee is a direct challenge to an unwritten agreement and to the EU's candidate, Dominique Strauss-Kahn. The unwritten agreement has allowed European countries to select the head of the IMF and the United States to choose the president of the World Bank. Developing countries have criticized the arrangement and called for open competition for such influential positions. Russia said Wednesday that developing countries, including China, India, and Brazil, want the new IMF managing director to be chosen “on a competitive basis.” Rice did not comment on the two rival's capabilities, but emphasized that the nomination process “would be open and transparent.” The EU chose Strauss-Kahn as its candidate in early July. The Frenchman, a leading Socialist Party politician, met later that month with U.S. Treasury Secretary Henry Paulson, who called him “a strong candidate.” Tosovsky welcomed his nomination on Wednesday, describing it as “a big honor.” However, the former Czech official is not the favored candidate of the Czech government, which is backing Strauss-Kahn. IMF managing director Rodrigo Rato, from Spain, announced in late June he would retire in late October, nearly two years before his term ends.
